Best Money Tips from Jonathan Pond

I recently watched an excellent financial program on PBS which featured Jonathan Pond. Here are some valuable tips from the show that will help you reach your financial goals. Enjoy!


Reaching Your Retirement Aspirations

1. Add money regularly to your retirement accounts

2. Consider a Roth IRA conversion

3. Pick the best time to begin collecting Social Security benefits

4. Request duplicate investment statements for the seniors in your life

5. Roll your 401(k) plan into an IRA once you turn 59½.

6. Delaying retirement has a lot of advantages



Financial Myths Debunked

7. "I don't qualify for an IRA contribution"

8. "The more attention you pay to your investments, the better your investments will perform"

9. "I need a big mortgage for the tax deduction"

10. "I need to keep some money in a safe place for emergencies"

11."You save money when you buy something on sale"



Becoming a Sagacious Investor

12. Bonds protect your portfolio from financial shocks

13. Exchange-traded funds can be an excellent investment

14. Buying Treasury securities online is a snap

15. Don't hesitate to offload underperforming investments

16. Risk is your friend

17. Shun those who think they can predict the future of the investment markets



Segment II

Coping with Life's Financial Annoyances

18. Save money by avoiding insurance you don't need

19. 529 plans can jumpstart college savings

20. Your life insurance needs often decline as you age

21. Organize your records and store a copy away from home

22.Pay your bills online

23. Get used to your loved one's financial peccadilloes



Enjoying a Prosperous Retirement

24. Carefully choosing sources of retirement income can cut your tax bite

25. If you need an income annuity when you retire, shop for the best deal

26. The ideal retirement investment provides both growth and rising income

27. Do well for a charity and yourself with a charitable gift annuity

28. Give a child or other relative the gift of an IRA



There's Strength in (Investment) Diversity

29.Consider the "60/40" investment solution

30. Add some pizzazz to your bond holdings

31. Middle sized stocks, like middle children, deserve more respect

32. There's not much to change in the way you invest when you retire

33. Savvy investors look overseas for investment opportunities





Segment III

Important Reminders for 2006



34. Take advantage of changes in the tax rules

35. Update your health care proxy with a HIPAA amendment

36. Name contingent beneficiaries for your retirement accounts

37. Choose the Medicare drug plan that's best for you

Investment Ideas for 2006

38. Skittish investors will like stocks that pay dividends

39. Technology stocks aren't dead

40. Make the interest on your short-term investments more interesting

41. Preferred stocks can boost your income



Top 10 Tips List

10. Simplify your investments

9. Cut the time it takes to pay off your mortgage by half

8. If you need it, obtain flood or earthquake insurance

7. Life expectancy has a big effect on your financial planning

6. Invest in your career

5. Taking care of your health is as important as taking care of your wealth

4. Avoiding the crowd will help you be a better investor

3. Your home is your best investment, but it's not an investment

2. Be happy with what you've got

1. Maximize your retirement spending in order to minimize your kids' inheritance